Tesla has started construction of a new production facility for energy storage systems in Shanghai. These so-called Megapacks are large battery storage systems that are used to stabilize power grids and store renewable energy. The new factory will cover an area of around 200,000 square meters, with a total investment of around 204 million US dollars.
The new production facility is the first Megapack factory to Tesla outside the USA and also the company's second production facility in Shanghai. Already in 2019 Tesla a gigafactory for the production of electric vehicles built at a cost of almost seven billion US dollars had already opened there in 2019.
Tao Lin, Vice President of Teslaemphasized that the open business environment in Shanghai will enable more efficient production in the new factory. "In a more open environment, the Megapack factory will allow us to create a new Tesla-speed and supply the global market with large energy storage batteries manufactured in China," she said, adding that mass production at the new megafactory is scheduled to start in the first quarter of 2025. The initial annual capacity is estimated at 10,000 megapacks.
